news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

No Result
View All Result
news4global
No Result
View All Result
Home Regulation

Peter Schiff’s Euro Pacific Bank Suspended by Puerto Rico’s Regulator — Schiff Insists No Evidence of Crime – Regulation Bitcoin News

July 5, 2022
Reading Time: 4 mins read
0
Peter Schiff’s Euro Pacific Bank Suspended by Puerto Rico’s Regulator — Schiff Insists No Evidence of Crime – Regulation Bitcoin News
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Bitcoin price may retest $20K on US CPI amid absence of soft landing — trader – Cointelegraph

February 5, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

This Week in Coins: Bitcoin Barely Budges, But Render and SHIB … – Decrypt

February 4, 2023

Peter Schiff-owned Euro Pacific Bank has been suspended by Puerto Rico’s financial regulator. Schiff claims that there’s “no evidence of crimes,” warning that “accounts are frozen and customers may lose money.”

Puerto Rico’s Regulator Suspends Peter Schiff’s Bank

Euro Pacific Bank, owned by notorious bitcoin skeptic and gold bug Peter Schiff, has been suspended by the Office of the Commissioner of Financial Institutions of Puerto Rico, also known as Oficina del Comisionado de Instituciones Financieras (OCIF).

Insisting that there is no evidence of crime at the bank, Schiff tweeted Sunday:

Despite no evidence of crimes, Puerto Rico regulators closed my bank anyway for net capital issues … As a result accounts are frozen and customers may lose money.

The Puerto Rican financial regulator announced on June 30 that it has issued a “Complaint and Cease and Desist Order” and a “Temporary Order Designating Trustee” against Euro Pacific Intl. Bank Inc.

“The order mandates the suspension of Euro Pacific’s operations … due to its crass noncompliance with the minimum capital requirements,” the OCIF detailed. “Further, the order imposes on Euro Pacific administrative fines totaling $765,000.00 for various violations to the laws and regulations administered by OCIF.” The regulator elaborated:

Euro Pacific’s serious insolvency situation constitutes sufficient legal justification for OCIF to undertake the administrative action announced today.

Euro Pacific Bank has posted a notice on its website, stating: “We are complying by pausing transactions until at least July 7, 2022, in order to review their request.”

Lack of Compliance, Schiff Claims He Has a Buyer for Euro Pacific Bank

Schiff has been trying to sell Euro Pacific Bank but he claims that the OCIF has blocked the sale.

“I have a buyer for the bank. But regulators won’t let me sell it,” Schiff tweeted, claiming that the buyer is “highly qualified” and has promised to “inject capital far in excess of regulatory minimums.”

The bitcoin skeptic opined: “They want to liquidate it so the media, the IRS, and the J5 can pretend it’s being shut down for tax evasion and money laundering, even though there was no evidence of either at the bank.”

In another tweet, Schiff admitted that his bank is not in compliance with the Puerto Rican minimum capital requirements. He explained:

My team didn’t understand the rules. We were new to PR [Puerto Rico]. We were required to keep more capital than we thought.

“I was prepared to put the extra in, but the Commissioner of OCIF told me I did not have to as the deficiency would be cured per the terms of the sale,” he claimed.

Replying to a question on Twitter about how much the shortfall was and how long the capital requirements had been an issue, Schiff said: “It was several million.”

Euro Pacific Bank was under investigation by tax authorities in five countries in 2020. Schiff admitted he was accused of tax evasion but stressed that the allegations were false and no charges were filed.

What do you think about Peter Schiff’s Euro Pacific Bank’s situation? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Share76Tweet47

Related Posts

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Bitcoin price may retest $20K on US CPI amid absence of soft landing — trader – Cointelegraph

by admin
February 5, 2023
0

Bitcoin price may retest $20K on US CPI amid absence of soft landing — trader  Cointelegraph

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

This Week in Coins: Bitcoin Barely Budges, But Render and SHIB … – Decrypt

by admin
February 4, 2023
0

This Week in Coins: Bitcoin Barely Budges, But Render and SHIB ...  Decrypt

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Latest Crypto News: Binance Cuts Ties With Indian Crypto Exchange WazirX, Filecoin Creator Protocol Cuts Staff Strength By 21% – Outlook India

by admin
February 4, 2023
0

Latest Crypto News: Binance Cuts Ties With Indian Crypto Exchange WazirX, Filecoin Creator Protocol Cuts Staff Strength By 21%  Outlook India

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Bitcoin set to end week 1% higher after Fed meet, but strong jobs … – Seeking Alpha

by admin
February 3, 2023
0

Bitcoin set to end week 1% higher after Fed meet, but strong jobs ...  Seeking Alpha

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Crypto is back with $300bn frenzy – Financial Times

by admin
February 3, 2023
0

Crypto is back with $300bn frenzy  Financial Times

Load More
  • Trending
  • Comments
  • Latest

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Bitcoin price may retest $20K on US CPI amid absence of soft landing — trader – Cointelegraph

February 5, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Weekly Article Recap: 1/30-2/3 – BSC NEWS

February 5, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

#Cryptocurrency Hackers Stole $3.8 Billion Last Year, Making It the Worst Year on Record … – Latest Tweet – LatestLY

February 5, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

What are the 5 Interesting Facts About Bitcoin – GISuser.com

February 5, 2023

Latest News

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Bitcoin price may retest $20K on US CPI amid absence of soft landing — trader – Cointelegraph

February 5, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Weekly Article Recap: 1/30-2/3 – BSC NEWS

February 5, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global